LOW might go low before it goes high

7月12日

Never financial advice. Just offering perspective.

Would like to see a move into 220.89 area before pushing and holding above 229.98, using that as a support level. The other possibilities are to revisit 215.62 and get as low as 213.89. Losing 213.89 would signal bears regaining full control and a likely retest of 205.64(from a weekly perspective). These levels under 220.89 seem less probable, but not out of the question. I like 220.89, cutting at 220.60 and reassessing is tight protection from more downside and opportunity for discounted entry for bull case. Though I prefer to see a pullback to then get going, LOW is showing signs of urgency to move higher continuing the current Daily uptrend. However, there is an area of 230.21-231.11 on a weekly view, that bulls have to step in or we may see a touch and go heavy rejection there. Prefer to see a pullback to retest 220.89 to then look for a target at 229.98, IF bulls claim 231.11... 238.19, 248.16, 257.25. Be aware that this analysis is on a higher timeframe of a daily and weekly perspective and may take time to develop.